Dispose Assets (tffam8240m000)

Use this session to dispose of several depreciating assets in all of their related books from the Fixed Assets module. A mass disposal differs from asset disposal in that you can dispose of a larger number of assets and books at one time. You can mass dispose of assets at any point after asset capitalization. You can dispose of part or all of the selected assets, or you can dispose of the assets in one or all of their books. LN records journal entries for the mass disposal using the values in the assets' default books in the General Ledger module.

You enter values the criteria fields, or leave them blank to perform the transaction on all assets in LN. You can process disposals to only one company at a time. LN uses the amount you enter on the distribution lines as criteria for the indicated source distribution lines.

A mass disposal changes the status of all disposed books from Depreciating to Disposed. If all of the assets' books have been disposed, the status of the assets becomes Disposed. You can purge disposed assets from LN.

Selection

Selection Range

Asset Number: asset number
Asset Extension: asset extension
Category: If you want to dispose of a group of assets that share a category, specify the range of categories associated with the assets.
Subcategory: If you want to dispose of a group of assets that share a subcategory, specify the range of subcategories associated with the assets.
Group: You specify the range of asset group codes associated with the assets on which you want to perform the mass disposal.
ITC Method: You specify the range of investment tax credit (ITC methods) associated with the assets on which you want to perform a mass transaction.
Vintage/Group Account: You specify the range of ADR vintage or MACRS group accounts associated with the assets on which you want to perform the mass disposal.
In Service Date: in-service date
Current Quantity: You specify the range of current quantities shared by the assets on which you want to perform the mass disposal.

Other Selection Criteria

Automobile: Here you can select the criteria to carry out a mass disposal.
Listed: Here you can select the criteria to carry out a mass disposal.
New: Here you can select the criteria to carry out a mass disposal.

Disposal Information

Disposal Date

Date of the disposal.

Default value

First day of current period.

Reason

Enter a reason code of the Disposal reason type for the new disposal transactions.

Reason codes are maintained in the Reasons (tffam6550m000) session.

The reason code of a disposal transaction can be looked up in the Disposal (tffam8540s000) subsession of the Asset Book Transaction Inquiry (tffam8501m000) session.

Disposal Type

disposal type

ADR Disposal Type

If one or more of the selected assets is in a vintage or group account, indicate how the disposal of the assets'ADR books must be handled.

If None or Ordinary, the asset's ADR book is given a status of Disposed, but it remains in the vintage/group account and continues depreciating with the account.
If Extraordinary, the asset's ADR book values are removed from the vintage account and no longer depreciates.

Disposal Book

This Disposal Book field is used to maintain the accounting records which are removed from the assets.

Note: This field is enabled only when the Dispose by Distribution check box is cleared.

Disposal Percentage

The percentage of amount to be disposed.

Note: This field is enabled only when the Dispose by Distribution check box is cleared.

Disposal Amount

Disposal amount is the remaining value an asset possesses.

Suppress Journal Entries

If this check box is selected, journal entries are not created in the General Ledger module for this transaction.

Print Error Report

If this check box is selected, an error report is printed.

Proceeds

Cash or other proceeds received as a result of the disposal. You can record proceeds for any type of disposal. For example, you might use the Proceeds field to record the fair market value of an asset that you disposed of through a charitable contribution.

Note:

The proceeds are stored in the disposal transaction of the asset book.
You can search for the proceeds in the Disposal (tffam8540s000) session, a subsession of the Asset Book Transaction Inquiry (tffam8501m000) session.

Currency

Rate

Rate Factor

Home Currency

From the Tools menu, choose Rotate Currency to switch home currencies.

Distribution

Location: You specify the location account associated with the assets on which you want to perform the mass disposal. You might have up to eight location segments set up which define the physical location of an asset.